REGISTERED NUMBER: SC241074 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Allan J. Gilmour Haulage Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

261,727

303,569

Investment property

5

1,050,000

367,905

1,311,727

671,474

CURRENT ASSETS

Stocks

2,512

3,663

Debtors

6

34,038

21,017

Cash at bank

70,532

60,461

107,082

85,141

CREDITORS

Amounts falling due within one year

7

(313,069

)

(308,658

)

NET CURRENT LIABILITIES

(205,987

)

(223,517

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,105,740

447,957

CREDITORS

Amounts falling due after more than one year

8

(6,362

)

-

PROVISIONS FOR LIABILITIES

(177,191

)

(73,952

)

NET ASSETS

922,187

374,005

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

922,088

373,906

922,187

374,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2025 and were signed by:

Mr A Gilmour - Director

1.	STATUTORY INFORMATION

Allan J. Gilmour Limited is a private company, limited by shares, domiciled in Scotland, registration number SC241074. The registered office is Drumelzier Farm, Denny, Stirlingshire, FK6 6BQ.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services in respect of hauliers, excluding value added tax and rental income derived from investment property. Sales are recognised at the point at which the goods are delivered or the service is complete, and rentals recognised at the point at which rentals fall due.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

10,000

94,658

770,267

874,925

Additions

-

76,770

-

76,770

Disposals

-

-

(86,000

)

(86,000

)

At 31 December 2024

10,000

171,428

684,267

865,695

DEPRECIATION

At 1 January 2024

800

61,692

508,864

571,356

Charge for year

200

7,768

56,646

64,614

Eliminated on disposal

-

-

(32,002

)

(32,002

)

At 31 December 2024

1,000

69,460

533,508

603,968

NET BOOK VALUE

At 31 December 2024

9,000

101,968

150,759

261,727

At 31 December 2023

9,200

32,966

261,403

303,569

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

Additions

17,950

At 31 December 2024

17,950

DEPRECIATION

Charge for year

324

At 31 December 2024

324

NET BOOK VALUE

At 31 December 2024

17,626

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

367,905

Revaluations

682,095

At 31 December 2024

1,050,000

NET BOOK VALUE

At 31 December 2024

1,050,000

At 31 December 2023

367,905

The investment property was valued on 2 September 2025 by Sandy Falconer MRICS of Falconer Property Consultants. As this valuation was prior to the signing of the financial statements this valuation of the investment property is included in the financial statements at 31 December 2024 as its most recent fair value.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

367,905

Valuation in 2024

682,095

1,050,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

11,171

20,388

Other debtors

13,000

-

Prepayments and accrued income

9,867

629

34,038

21,017

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

7,846

Hire purchase contracts

6,875

-

Trade creditors

15,338

5,094

Tax

9,159

9,669

Social security and other taxes

640

89

VAT

13,739

16,695

Pension creditor

194

60

Other creditors

800

-

Directors' current accounts

263,009

266,076

Accruals and deferred income

3,315

3,130

Accrued expenses

-

(1

)

313,069

308,658

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

6,362

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

13,237

-

Hire purchase creditors are secured on the assets to which they relate.